Just like reading a single page can only give a limited understanding of a book, staying in one place only gives a limited understanding of the larger world. Travelling allows one to see things through different lenses, build diverse perspectives and discover themselves. For every travel plan one needs a perfect plan and the startup MiStay does just that.
MiStay is an attempt to empower people to achieve their travel dream. Bringing flexibility into hotel bookings is just the beginning. They aim to eventually disrupt and drive innovation in every facet of the travel industry. They aspire to be the leader of the next generation of travel. MiStay helps you book hotel room by hour in Bangalore, Delhi, Gurgaon, Mumbai, Chennai, Hyderabad, Pune and Kolkata. MiStay is a travel-tech company that allows booking a hotel rooms by pack of hours with flexible check-in & check-out times.
MiStay founding team consists of Pranav & Sandeep, both of whom are alumnus of IIT Madras. Sandeep Jaiswal (Co-Founder & CEO) is an avid traveller and an IIT Madras alumnus with 2 years experience in management consulting. He leads operations & business development at MiStay. Pranav Prabhakar (Co-Founder & CTO) is a Computer Science graduate from IIT Madras with over 3 yrs. experience in design & product development. He leads technology & design at MiStay. MiStay was founded in the year 2016 and is based out of Bangalore.
MiStay is trying to solve two key points for travelers:
- Travellers require room for less than a day: Under various scenarios, travellers require room for only few hours. However, the current booking system only allows booking room for entire day. Travellers do not want to pay full day tariff when they use room for only few hours.
- Travellers need flexibility in check-in & check-out timings: The rigid check-in & check-out timings (12 noon – 11 am) does not suit travellers. They do not want to wait till 12 noon if they arrive hotel early morning. They do not want to check-out at 12 noon itself if their flight is late in the night.
Their solutions benefit not just the travelers but also the hoteliers because their suggested model helps increase hotel occupancy. Average occupancy rate of hotels in India is less than 60%. MiStay is creating a new segment of customers (who might not have otherwise booked a room) which hotels can tap to increase their occupancy and revenue. This model also helps increase the RevPAR. Hotels can sell same inventory multiple times in a day (upto 3 times). If a room is sold twice/ thrice in a day, hotel can earn more than the full-day tariff, and hence increase the Revenue per Available Room. And last but not the least, hotels have complete control on which hours they want to sell on any particular day. They can choose to sell the hours when the room remains unoccupied in order to optimize their inventory.